In today’s briefing:
- ECM Weekly (13th Nov 2022) – I-Tail, Blibli, Nykaa, PB Fin, Five Star, Archean, GDRs, Axis Bank
- Etsy Inc: New Image Search Feature & Other Developments
- Lygend Resources & Technology Pre-IPO – Thoughts on Valuation
- Trimble Inc: Acquisition of B2W Software & Other Drivers
ECM Weekly (13th Nov 2022) – I-Tail, Blibli, Nykaa, PB Fin, Five Star, Archean, GDRs, Axis Bank
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- On the IPO front, Indian IPOs continue to trickle in, while other regions appear to be waking up from their slumber.
- There were a few GDR issuances this week, along with another placement in Axis Bank Ltd (AXSB IN) and a number of lock-up expiries.
Etsy Inc: New Image Search Feature & Other Developments
- Etsy reported a strong set of results that were beyond market expectations with a strong adjusted EBITDA margin and growth in revenue.
- Also, it had some early incorporation of buyer interests and taste to create more personalized and predictable recommendations.
- The company held Etsy Up: Holiday edition, its foremost global holiday kickoff event for sellers all over the world.
Lygend Resources & Technology Pre-IPO – Thoughts on Valuation
- Lygend Resources & Technology (LR HK) is looking to raise about US$600m in its upcoming Hong Kong IPO.
- Lygend Resources & Technology (Lygend) is a nickel trading and production firm with a portfolio covering multiple areas across the nickel industry value chain.
- In this note, we will look at assumptions, and share our thoughts on valuation.
Trimble Inc: Acquisition of B2W Software & Other Drivers
- Trimble showed a decent organic revenue growth in the last quarter but failed to meet Wall Street expectations on the revenue front.
- The company’s top-line was impacted by the changes in the foreign exchange rates and it barely managed to meet market expectations regarding earnings.
- Recurring and software revenue continued to grow at quite a strong rate which is reflected by the sequential acceleration of its organic ARR growth.
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